Want to Get Your Student Loans Forgiven? Here’s How

Second to winning the lottery, student loan forgiveness is probably the most popular dream-financial goal of recent college graduates. Actually, given that it takes 25 years to have your loans waived for financial reasons (and then only if you borrowed money under certain programs), it might be a dream of many not-so-recent graduates as well. But how, short of enduring poverty, can you achieve this?

April 8, 2013

Second to winning the lottery, student loan forgiveness is probably the most popular dream-financial goal of recent college graduates. Actually, given that it takes 25 years to have your loans waived for financial reasons (and then only if you borrowed money under certain programs), it might be a dream of many not-so-recent graduates as well. But how, short of enduring poverty, can you achieve this?

Under the Federal Student Loan Repayment Program, you can get $10,000 of your loans repaid annually if you work for certain agencies, up to $60,000.

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2. Become a veterinarian…

…and move to an area with few vets for three years. (I feel compelled to point out that this is basically the plot of the TV show “Northern Exposure,” but with animals. You’re welcome, TV execs in search of “new” shows.)

3. Be a lawyer, and work for certain nonprofit or public interest groups.

Your law school loans might be forgiven. Which is good, because that’s the only way someone with law school loans could ever afford to work for a nonprofit.

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